According to Renub Research market research report "India Furniture Market By Industry Type (Organized, Un-Organized), Ordering Method (Online, Offline), Material Type, End Users (Residential, Office, Hospitality), Products (Beds, Wardrobes/, Sofas, Others), By Company" India Furniture Market is forecasted to be more than US$ 27 Billion by the end of the year 2023. India is the second-most populous country in the world with over 1.3 Billion inhabitants, and it is one of the biggest and fastest-growing economies in the world.
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Traditional furniture's popularity has reinforced the demand for wood in India furniture market. The use of wooden products in the home has risen over the previous few years as individuals have begun to use wood to furnish cupboards, decorate, and other purposes. Besides this, in metro cities like Delhi, Mumbai, Bangalore, and other significant towns, demand for engineered wood furnishings is increasing. The reason for this is the growing popularity of being ready to assemble home furniture in these metro cities.
Recent Development:
India furniture market is flourishing due to the growing middle-class population with rising disposable income and growth in the number of urban households. International brands like IKEA and Indian companies like Godrej Interio, Urban Ladder, and Pepperfry are also boosting organized segment of the furniture industry in India. Ease of doing business is also helping startups to take benefits of the booming Indian furniture market.
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Market Summary:
• By Industry Type: Un-Organized segment is having major market share in India furniture market. Market and market share of Organized and Un-Organized segments are covered in the report.
• By Ordering Method: Offline mode is still dominating the market. The research report covers market and market share of Online and Shops (Brick & Mortars) Offline methods.
• By Material Type: Market and market share of Wood, Metal, Cane Plastic & Bamboo and other materials are provided in the report. Wood is having a significant market share among other materials.
• By End Users: Market and market share of Residential/Home, Office and Hospitality are covered in the research report.
• By-Products: The research report covers market and market share of Beds, Wardrobes/Storage, Sofas and other Products.
• By Companies: Overview and Initiatives of Nilkamal, Parin Furniture, Omfurn India, Century Plyboards India, Godrej Interio, Urban Ladder, and Pepperfry are given in the research report.
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